JAPANESE ECONOMY

JAPAN AT A GLANCE

• Japan,an archipelago of 6.852 islands is located north eastern Asia.
• Capital:Tokyo.
• Rich in precious metals.
• World's 3rd largest economic power.

JAPAN'S ECONOMIC MIRACLE

• USA came to help in 1949.
• USA gave Japan money and requisite support to rebuild its economy.
• Japan emphasised on technology.
• In this time the unemployment rate was low.

JAPAN'S ECONOMIC MIRACLE

• In 1968, Japan's GNP reached about 152 billion dollars.
• Japan focused on producing car rather than other things as it has signed a security pact with USA.
• By 1970, it became the third biggest industrial countries in the world.

ECONOMY SINCE 1970 TO PRESENT

• In 1973 the Japanese economy was suffering an inflation spiral caused mainly by surging land prices triggered by a nationwide development boom.
• After the Oil Embargo Japan's GDP decreased to 4% in 1975.
• In 1980 Japan again faced high inflation.But they overcame.

ECONOMY SINCE 1970 TO PRESENT

• By the year of 1980 Japan's business stood up strongly and the price of yen increased.
• Since 1990-2000 it took more plan to do more improvement in telecommunication sector.For this it signed various pacts with USA&UK.
• All these things made Japan the East-Asian Miracle after the massive destruction of WWII.

Automation
•Japan became first major user of industrial robots in manufacturing.
•These were first developed in Connecticut.
•Honda's first robots

Miniaturization
•Japanese take new American technology like transistors and can manufacture more cheaply

TRADE AND INDUSTRIES

• Exports-cars,electronic devices,computers to US,China,South Korea,Taiwan,Hong Kong
• Imports-raw materials,oil,foodstuffs to China,US,South Korea,Australia
• Industries-motor vehicles,industrial and transportation equipment,electronics,chemicals,steel,machine tools,processed foods,nonferrous metals,agriculture 2% of GNP

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